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by a scandal obsessed washington, which said the following -- the budget deficit will shrink this year to $642 billion, the smallest shortfall since 2008. deficits in cbo's baseline projections continue to shrink falling to 2.1% of gdp by 2015. in english, the deficit is shrinking at a near record breaking rate. now, you would think once it came to light that the deficit is shrinking at such a rapid rate that we hit the vaunted goals even set out by our wise masters, simpson and bowles, that people in washington who have endlessly obsessed over the deficit since the take party insurrection would take notice. the party that have said things like in the past three years. >> the president and his leaders in the senate are refusing to address this debt crisis. >> the important thing is that we have action and reduce these deficits. >> what i know is spending is out of control. >> tremendous deficits. >> debts out of control. >> does not start paying down our deficit. it is kicking the can down the road and frankly, we are out of road. >> you would think that those people would all be pushing to ta
? we'll do the math for you. >>> plus the deficit is shrinking far quicker than thought. are this year's tax hikes actually to blame or is it just a drop in the bucket? we're going to debate it. coming up. do you have ever have too much money? snowed snowed. ♪ . ♪ . melissa: talking of cruising along, have you noticed how much tesla's stock has exploded? check it out as shares have soared 150% so far this year. partly from first quarter profits of 11 million dollars, its first-ever profit. get this, its shares are up 7% after-hours as it announces new offerings of common stock an convertable senior notes. what s really going on. can shares stay this hot? joining me to break this down, "wall street journal" auto columnist, dan neil. this is a company everyone loved to hate before. now everyone loves to love it. let me try to poke a few holes in it to see what you have to say about it. first of all, robert weinstein wrote some critical things about the last earnings report that got this ball rolling and got everybody so excited. they said if you looked at the $96 million that was ge
] >>> shrinking deficit projections are causing the street to rethink the program. steve liesman joins us on why it is more leakly. interesting after tepper's comments. >> right in line, the budget deficit increasingly seen as a catalyst for the fed to reduce its purchases of bonds to drive down interest rates. david tepper on squawk box yesterday flagging the problem faced by the fed. declining deficit means the governor will be selling less paper. the less paper the governor sel sells. right on cue, revising downward the fiscal yore 2013 by more than $200 billion from the earlier forecast to $642 billion. that compares with the deficit in fy 2012 with 1.2 million. the fed plans to buy more than $1 million a month in mortgages and that plan remains unchanged at least for now. credit suisse, the new deficit projections raise the sustainability of the purchase. we still look for a tapering with the risk and the small cut say $10 billion come sooner. ubs says the fed could find itself paying more than 100%. in order to maintain a stable accommodation of the qe, the fed would need to reduce their r
. the deficit is getting smaller. a lot smaller. the congressional budget office says it will be $400 million less than the trillion dollars deficit last year. it's down because of higher taxes. a 60 billion check to the government from fannie and freddie. there's a down side for those of us who want the government to get its finances in order, this takes the wind out of the sails of the spending, cutting movement. maybe the deficit news helped stocks, another record close for the dow, 19th this year and same story for the s&p 500, the 14th he record there this year. we're looking at a flat to slightly lower opening today, but that happened yesterday and we still went up 120 by the close. stay tuned. and suddenly, it seems that president obama's second term agenda is unravelling. and the mainstream media have turned on the administration. big government seriously questioned, my, have times have changed. in just ten days. here is the the all-government, all the time president speaking the at ohio state may the 5th. >> unfortunately, you've grown up hearing voices that incessantly worn the gove
closely here at "all in with chris hayes." >> michigan department of education has just approved a deficit elimination plan for the buena vista school district. >> the district is hopeful that everyone will be back in class as early as this week. >> you heard that right. the buena vista school district will reopen, maybe as soon as friday, and students will finish out the school year, which runs until june 13th. that's because michigan education superintendent mike flanagan finally approved the district's third deficit elimination plan last night, which cleared the way to release state funding. as we first reported last week, then again on monday, buena vista students have not been in school since friday, may 3rd, because the district is out of money and republican rick snyder refused to release $500,000, or .1% of the state's rainy day fund so buena vista schools could reopened. that caused the district to shut the doors on all three schools, send more than 400 schools home, and layoff all 27 of its teachers. when we first covered this story, there was very little movement to resolve the
are hoping for tax reform. we were hoping to work more on the deficit. do you think this will diverge us from getting things like that done in washington? >> i am not so sure that the market will take that as bad news. the less they do inside the beltway seems to be the better. that is seen as bad news. the more gridlock, the better in many peoples minds. dennis: we have justice with the ap, the irs going after tea party groups, if we have a third-party to come up that is overreaching like that, it gets far worse. >> i will give you one. it is still another one. if i can quickly push back a little on what david said, i agree. i would also say be careful what you wish for. the specter of a three year lame-duck president does not look that great internationally. i do worry about that angle. >> i am not too worried about what is happening internationally. i think they will basically be just slightly by over the next couple years. it is the economy here that i am worried about. with gridlock, look at what we have been able to get done. the president realizes that he needs more tax income for natu
bron added 23. the heat erasing 11-point second-half deficit to knock out the chicago bulls in game five. the heat again in the eastern conference finals. they await the winner of the pacers and knicks. the pacers could close that thing up at the garden tonight. >> so it could be the pacers versus memphis? >> potentially, yes. >> that's what you're hoping for. >>> turning to college basketball, rutgers university has announced julie herman as its new athletic director. herman replaces the former a.d. who resigned after a video came out of the school's former men's basketball coach mike rice. >> ow. >> caught on camera hurling basketballs at players and using in a couple cases gay slurs during practice. hermann would be rutgers' first female a.d. she comes from louisville where she served as their athletic director's top deputy. she's got more than 30 years in college athletics but no prior experience as the head of a school's athletic program. >> mike, are there a lot of top program -- >> five. she becomes the fifth in d-1 schools. >> good move. move>> g >>> up next, author, columnist, k
Search Results 0 to 6 of about 7